1. IASBO 54 TH ANNUAL CONFERENCE CAFR STATISTICAL SECTION - CHANGES FOR FY ’05-’06 Presented by: Andrew L. Mace WILLIAM F. GURRIE & CO., LTD.

2. GASB 44 What does GASB 44 mean for School Districts?What does GASB 44 mean for School Districts? The statistical section has been updated with new requirements to keep pace with GASB 34.The statistical section has been updated with new requirements to keep pace with GASB 34.

3. GASB 44 Statistical section is now split into five different partsStatistical section is now split into five different parts –Financial Trends Information –Revenue Capacity Information –Debt Capacity Information –Demographic & Economic Information –Operating Information

4. Financial Trends Information This part has four required schedulesThis part has four required schedules –Schedule of Net Assets –Schedule of Changes in Net Assets –Schedule of Fund Balances, Governmental Fund –Schedule of Changes in Fund Balances

5. Financial Trends Information Schedule of Net AssetsSchedule of Net Assets –Provides a comparison of Net Assets for a school district over the last ten fiscal years –A requirement is that the net assets must be presented in three different line items and in the aggregate Invested in capital assets, net of related debtInvested in capital assets, net of related debt RestrictedRestricted UnrestrictedUnrestricted

6. Financial Trends Information Schedule of Changes in Net AssetsSchedule of Changes in Net Assets –Provides a comparison of the Change in Net Assets for a school district over the last ten fiscal years –Schedule also shows revenues and expenses as seen in the Statement of Activities for the last ten fiscal years

7. Financial Trends Information Schedule of Fund Balances, Governmental FundSchedule of Fund Balances, Governmental Fund –Shows ending fund balance for the General Fund and then for all the other funds combined for the last ten fiscal years –General Fund is broken down into reserved and unreserved portions –The other funds are split into the reserved amount and any unreserved portion is presented by each individual fund

8. Financial Trends Information Schedule of Changes in Fund BalanceSchedule of Changes in Fund Balance –There are three requirements Show the Net Change in Fund Balance over the last ten fiscal yearsShow the Net Change in Fund Balance over the last ten fiscal years Provide the following ratio, Debt Service as a Percentage of Noncapital ExpendituresProvide the following ratio, Debt Service as a Percentage of Noncapital Expenditures Debt Service must broken into principal and interest portionsDebt Service must broken into principal and interest portions –Schedule also shows revenues by source and expenses by function for last ten fiscal years

9. Revenue Capacity Information This part has four required schedulesThis part has four required schedules –Schedule of Equalized Assessed Valuation & Estimated Actual Valuation –Schedule for Property Tax Rates – All Direct & Overlapping Governments –List of Principal Taxpayers –Schedule of Levies and Collections

10. Revenue Capacity Information Schedule of Equalized Assessed Valuation & Estimated Actual ValuationSchedule of Equalized Assessed Valuation & Estimated Actual Valuation –Shows information for last ten fiscal years –Presents real estate classes by type for example commercial, residential, etc. –Provides totals for each fiscal year for each of the following; equalized assessed valuation, estimated actual valuation, and percent total of fiscal year –Gives equalized assessed valuation, estimated actual valuation, and percent total of fiscal year for each class

11. Revenue Capacity Information Schedule for Property Tax Rates – All Direct & Overlapping GovernmentsSchedule for Property Tax Rates – All Direct & Overlapping Governments –Needs to show a total for the direct rate of the School District –List the property tax rate for any overlapping government –Then show provide a total for both the direct rate and all overlapping rates

12. Revenue Capacity Information List of Principal TaxpayersList of Principal Taxpayers –Two requirements List the ten largest taxpayers or 50% of the District’s EAVList the ten largest taxpayers or 50% of the District’s EAV Need to have this list for the current fiscal year and the fiscal year nine years priorNeed to have this list for the current fiscal year and the fiscal year nine years prior

13. Revenue Capacity Information Schedule of Levies and CollectionsSchedule of Levies and Collections –Provides tax rates extended by fund and levies extended by fund for last ten fiscal years –Gives totals for both tax rates extended and levies extended for last ten fiscal years –Required to present levy collections as current year collections and subsequent collections; current & subsequent year collections are then totaled –Also has a row for Percentage of extensions collected for each year

14. Debt Capacity Information This part has four required schedulesThis part has four required schedules –Ratio of Outstanding Debt by Type –Ratio of Net General Bonded Debt to Estimated Actual Valuation and Net General Bonded Debt per Capita –Computation of Direct and Overlapping Bonded Debt –Legal Debt Margin Information

15. Debt Capacity Information Ratio of Outstanding Debt by TypeRatio of Outstanding Debt by Type –Presents any outstanding debt type for each of the last ten fiscal years –Gives a total for all types of outstanding debt for the last ten fiscal years

16. Debt Capacity Information Ratio of Net General Bonded Debt to Estimated Actual Valuation and Net General Bonded Debt per CapitaRatio of Net General Bonded Debt to Estimated Actual Valuation and Net General Bonded Debt per Capita –Needs to have two ratios Net General Bonded Debt / Estimated Actual ValuationNet General Bonded Debt / Estimated Actual Valuation Net General Bonded Debt per CapitaNet General Bonded Debt per Capita

17. Debt Capacity Information Computation of Direct and Overlapping Bonded DebtComputation of Direct and Overlapping Bonded Debt –Gives the overlapping debt for each overlapping government of the School District –Needs to have the total direct bonded debt for the School District –Provides a total amount which includes all direct and overlapping bonded debt of the School District

18. Debt Capacity Information Legal Debt Margin InformationLegal Debt Margin Information –Presents the Legal Debt Margin & Total Net Debt Applicable to the Limit as a Percentage of Debt Limit for the last ten fiscal years –Provides a calculation of the Legal Debt Margin for the current year

19. Demographic and Economic Information This part has two required schedulesThis part has two required schedules –List of Principal Employers –Demographic and Economic Statistics

20. Demographic and Economic Information List of Principal EmployersList of Principal Employers –Required to list the ten largest employers with number of employees located inside the District –This list is to be done for the current year and the year nine years prior

21. Demographic and Economic Information Demographic and Economic StatisticsDemographic and Economic Statistics –Gives information for the last ten years –Provides the following four items PopulationPopulation Income per CapitaIncome per Capita Personal income for the DistrictPersonal income for the District Unemployment rateUnemployment rate

22. Operating Information This part has three required schedulesThis part has three required schedules –Number of employees by function –Operating indicators by function –School building information –Miscellaneous Statistics (not required)

23. Operating Information Number of employees by functionNumber of employees by function –Required to provide number of employees by function for the current fiscal year –Also shows number of employees for the last ten fiscal years by three main categories which are broken down into even further detail AdministrationAdministration TeachersTeachers Other Supporting StaffOther Supporting Staff

24. Operating Information Operating indicators by functionOperating indicators by function –Required to show various operating indicators of the District by function –These indicators can be changed to whatever best fits/describes the District’s activities

25. Operating Information School building informationSchool building information –Fulfills the capital asset requirement for the Operating Information part –Gives the square footage, capacity (students), & enrollment for each school building in the District over the last ten fiscal years

26. Operating Information Miscellaneous StatisticsMiscellaneous Statistics –This schedule is not required as part of GASB 44, but includes some nice information for the readers of the CAFR to know and have at their disposal

27. QUESTIONS? Andrew L. Mace William F. Gurrie & Co., Ltd. (630) 645-6202 andymace@gurrie.com